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Bitget Advances Crypto Security with MPC Technology Upgrade

Finance Magnates

Cryptocoins News / Finance Magnates 24 Views

The cryptocurrency exchange Bitget has enhanced the security of its platform wallets through an upgrade to Multi-Party Computation (MPC) technology. MPC aims to boost wallet protections using distributed computing, homomorphic encryption, and a Trusted Execution Environment (TEE).

Bitget Upgrades Wallets with Advanced Security Technology

The technology implemented by Bitget works by dividing private keys into segments across multiple servers. Transactions can then occur without keys being revealed in one place. TEE also provides hardware-level security to fortify the wallet infrastructure. The upgrade follows Bitget's ongoing efforts to implement new security solutions. The company previously launched an MPC-enhanced wallet to protect users' digital assets.

β€œThe upgrade of MPC technology into our wallet is a testament to our commitment to providing a secure and reliable platform,” said Gracy Chen, the Managing Director at Biget. Chen added the exchange wants to continue adopting innovative technologies to keep the platform secure and reliable.

Bitget Unveils New Smart Copy and Smart Money Modes

The cryptoexchange has been actively enhancing its offerings with several major updates over the past year. In 2023, Bitget introduced an upgraded copy trading systemcalled "Smart Copy Mode" that enables users to allocate investments and execute trades based on their total assets rather than a fixed amount. This new feature aims to help novice traders invest more strategically by simplifying the copy trading process.

Additionally, Bitget Wallet, formerly known as BitKeep, launched an artificial intelligence-powered "Smart Money" tool that tracks over 6,000 high-performing crypto addresses to identify potential signals and trends. According to Bitget Wallet's COO, Alvin Kan, the goal is to "empower users to preemptively discern market trends, promptly uncover investment opportunities, and consequently bridge the gap between ordinary investors and Smart Money."

This wallet summarized a transformative 2023, during which it underwent rebranding and exceeded 12 million global users. According to Bitget's 2024 report, the previous year saw an increase of 94% in crypto spot trading volumes on the exchange.

The user base also more than doubled from 8 million to 20 million users. With over 1,500 employees currently, Bitget has significantly expanded its team to support growth.

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This article was written by Damian Chmiel at
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